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    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Arab states imported 1.73 million agricultural commodities from Egypt

    Arab states imported 1.73 million agricultural commodities from Egypt

    Wheat yield boom boosts Oman’s food security

    Wheat yield boom boosts Oman’s food security

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

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      Saudi: 53 new industrial licenses issued in April 2023

      Saudi: 53 new industrial licenses issued in April 2023

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Saudi transport authority approves 15 licensing, technical guides for railways

      Saudi transport authority approves 15 licensing, technical guides for railways

      Number of industrial decisions up by 10.56% to 356 in 2021

      Number of industrial decisions up by 10.56% to 356 in 2021

      Egypt’s macroeconomic conditions improving, says minister

      Egypt’s macroeconomic conditions improving, says minister

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

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      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Oman releases more Sultan Haitham City details

      Oman releases more Sultan Haitham City details

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Oman gears up for its first smart city

      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

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        NEOM’s green hydrogen project is formally under execution: ACWA Power

        NEOM’s green hydrogen project is formally under execution: ACWA Power

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Total-led consortium to start drilling offshore Lebanon in September

        Total-led consortium to start drilling offshore Lebanon in September

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          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Leisure sector in Qatar stronger after World Cup 2022

          Leisure sector in Qatar stronger after World Cup 2022

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
          • All
          • Agriculture
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          • Food
          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Arab states imported 1.73 million agricultural commodities from Egypt

          Arab states imported 1.73 million agricultural commodities from Egypt

          Wheat yield boom boosts Oman’s food security

          Wheat yield boom boosts Oman’s food security

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics
            Saudi: 53 new industrial licenses issued in April 2023

            Saudi: 53 new industrial licenses issued in April 2023

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Saudi transport authority approves 15 licensing, technical guides for railways

            Saudi transport authority approves 15 licensing, technical guides for railways

            Number of industrial decisions up by 10.56% to 356 in 2021

            Number of industrial decisions up by 10.56% to 356 in 2021

            Egypt’s macroeconomic conditions improving, says minister

            Egypt’s macroeconomic conditions improving, says minister

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Oman releases more Sultan Haitham City details

            Oman releases more Sultan Haitham City details

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              NEOM’s green hydrogen project is formally under execution: ACWA Power

              NEOM’s green hydrogen project is formally under execution: ACWA Power

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Total-led consortium to start drilling offshore Lebanon in September

              Total-led consortium to start drilling offshore Lebanon in September

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              Egypt seeks $24 billion investment in power projects

              Zawya

              March 1, 2016
              in Infrastructure, Power & Electricity, Renewable Energy
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              Egypt is studying new energy pricing structures to facilitate private sector investment in power projects worth USD 70 billion that are expected to be carried out in the next six years, a government advisor said.

              Sherif Atifa, advisor to the investment ministry, told Zawya that Egypt hopes to attract investment of USD 24 billion in the planned power projects that aim to resolve frequent electricity shortages and support economic development in the Arab world's most populous country.

              "The flow of investment in power projects in Egypt is strongly linked to the existence of a fair structure for pricing services to ensure that there is a return on investment. Investors have concerns that we fully understand and appreciate, and we are working with them to come out with realistic solutions," he said.

              "We are working on enacting legislative reforms to investment laws and we are also studying various funding models and putting in place a price structure for selling services."

              Egypt needs to increase its average power production by 5.2 gigawatts (GW) per year by 2022 to keep up with demand. The country's energy mix is largely dependent on oil and gas at 91%, with hydroelectric power providing just 8%, according to data from the Ministry of Electricity and Renewable Energy.

              Last year, the electricity ministry said 24 agreements and memorandums of understanding (MOU) for energy projects worth around USD 70 billion had been signed at an investment conference in Sharm El Sheikh, including projects for electricity generation, transmission lines, power plant expansions and renewable energy projects utilizing solar, wind and coal.

              Atifa said there have been delays in implementing most MOUs for renewable energy projects due to negotiations related to the setting of prices for the sale of electricity to consumers, and on whether services should be sold directly to consumers or through the government.
               
              Subsidy reforms
              In 2014, Egypt said it plans to gradually reform the country's energy subsidy policies and that energy prices would be fully liberalized by 2019 under a five-year plan to cover much-needed capacity expansions at power plants. The 2015-2016 state budget has allocated USD 3 billion in energy subsidies.

              The reform plan includes an increase in electricity prices, except on residential consumers using less than 200 kilowatt per hour a month, as tariffs have been frozen for this category to protect households with low income.

              Mohammad Shoeib, managing director of Al Qalaa Holdings, said that transparency and liberalization of prices are the most important guarantees to sustain the flow of investments to the energy sector.

              "The Egyptian government cannot continue to be the only player in developing power projects," he told Zawya. "This is a burden that it cannot bear for long in light of its inability to repay the investment returns to companies that have constructed power plants, which eventually led to a deficit in energy production."

              Gas shortages and ageing state-run infrastructure have led to frequent power outages in Egypt, especially during the summer months when demand is high and electric grids are overloaded by more than 3,000 megawatt (MW), according to the electricity ministry.

              Last September, Minister of Electricity and Renewable Energy Mohamed Shaker told Daily News Egypt that the country planned to add 14,400 MW to the national grid within two years through three new power plants under an agreement with German industrial company Siemens. The minister was quoted as saying that the projects represent around 40% of total capacity of the electricity grid.

              In June 2015, Siemens signed a USD9 billion agreement with Egypt to supply gas and wind power plants to boost the country's electricity generation by 50%. The order includes 12 wind farms in the Gulf of Suez and West Nile areas, comprising about 600 wind turbines and an installed capacity of 2 GW.

              Renewable energy
              Government advisor Atifa said that Egypt hoped to increase the contribution of renewables in the energy mix to 20% by 2022 from 8-9% now. He said that total investments in renewable energy projects currently being implemented stand at more than USD 13 billion.

              The chairman of the New and Renewable Energy Authority (NREA), Mohamed El Sobky, said that under the six-year plan to 2022, the contribution of wind power is expected to reach 12% and that there would also be an expansion in hydropower energy capacity.
               
              El Sobky said the NREA is working on some solar and wind power projects in the Suez Canal area as part of efforts to promote a fair geographic distribution of projects. He said there are targets to generate 2,300 MW of solar energy in 2016.

              "Egypt is counting on the power linking project with Saudi Arabia to increase the capacity of its electric grid. An international call for proposals (for the project) is expected this year with investments of about USD 1.6 billion," he told Zawya.

              The Egyptian daily Amwal AlGhad reported in January that the Egyptian cabinet had approved a USD 98 million loan agreement with Kuwait Fund for Arab Economic Development (KFAED) to help finance the Egyptian section of the power link project with Saudi Arabia.
              Zawya
              1 March
               

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